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Dublin, May 16, 2019 (GLOBE NEWSWIRE) -- The "Global Lung Cancer Drugs Market - Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025" report has been added to ResearchAndMarkets.com's offering.
Global Lung Cancer Drugs Market will grow at a CAGR of 13.6% during the forecast period.
The market has witnessed steady growth in the past few years with the introduction of novel products, which have augmented the acceptance of immunotherapy drugs in the market. The market is fueled by upsurge in the incidence of lung cancer cases across the globe - owing to increasing diagnosis rate and mainly due to increasing tobacco consumption, increase in the lung cancer treatment rates, increasing rate of effective drug approvals as first-line therapies, strategic deals to develop new products, increasing R&D spending, and rapid industrialization leading to increased pollution.
The leading global pharmaceutical companies are focusing on product approvals as first-line treatment therapy and combination treatment with chemotherapy, collaborations, and regulatory submission of already matured cancer treatments in the developing countries as a major strategy to increase their revenue. Many of the global players are also focusing on providing home infusion services in the developed markets with secured and safe cold chain logistic infrastructure. This Direct-to-Patient (DTP) strategy is also helping market players to expand their patient volumes and thus the overall revenues globally.
The market generates the revenue from the key players operating in this field and some of them include, F. Hoffmann-La Roche Ltd, Bristol-Myers Squibb, Janssen, Amgen, AstraZeneca PLC, Pfizer, Inc., Eli Lilly & Company Ltd, and Novartis AG.
According to the author's analysis, North America accounted for the largest share of the global lung cancer drugs market in 2018 and will retain a high position during the forecast period 2019-2025. According to WHO, cancer accounted for an estimated 9.6 million deaths in 2018 and the most common cancer among all types is lung cancer (2.09 million cases). An estimated 234,030 new cases of lung cancer were diagnosed in 2018, representing about 13% of all cancer diagnoses in the country.
Europe is the second major shareholder of the global lung cancer drugs market. There were an estimated 3.91 million new cases of cancer and 1.93 million deaths from cancer in 2018. Lung cancer is the third most common cancer type of cancer (470,000) after the female breast cancer and colorectal cancer (500,000). In the UK, around 46,700 new lung cancer cases are recorded annually and it is the third most common cancer. The Asia Pacific is expected to grow at high double digit CAGR during the forecast period, owing to factors such as the increasing prevalence of cancer cases, growing healthcare expenditure, and increased healthcare awareness.
By Disease Type:
The non-small cell lung cancer segment occupied the largest share in 2018 and is expected to grow at mid-double digit CAGR during the forecast period. The increasing incidence and prevalence of non-small cell lung cancer and rapid industrialization make the segment the fastest growing during the forecast period 2019-2025.
By Molecule Type:
In 2018, the small molecules segment occupied the largest share and biologics is expected to grow at a high CAGR during the forecast period due to increasing adoption of biologics, strong pipeline targeting first-line treatments, and recent product approvals.
North America is dominant in the global lung cancer drugs market followed by Europe and Asia Pacific. The significant share of the North America market comes from the US due to the availability of favourable reimbursement policies.
Lung Cancer Drugs Market Research Competitive Analysis - The global lung cancer drugs market has massive growth opportunities in both developed and developing regions. Many companies are concentrating on new approvals, collaborations, and development of new drugs to treat lung cancer due to an increase in the incidence of cancer and the need for advanced treatments.
For instance, the European Commission has approved brigatinib (Alunbrig) developed by Takeda Pharmaceutical in November 2018 to treat adult patients with ALK-positive non-small cell lung cancer (NSCLC) who were previously treated with crizotinib (Xalkori). FDA approved durvalumab (Imfinzi) developed by AstraZeneca Inc. in February 2018 for the treatment of unresectable stage III non-small cell lung cancer whose disease has not progressed following concurrent platinum-based chemotherapy and radiation therapy.
In addition, other leading vendors are focusing on investing huge on research and development activities to develop new products to obtain a high share in the market.
Key Competitive Facts
Increasing incidence of the disease globally, promising drug pipeline, and enormous R&D activities for lung cancer drug development are the major factors driving the market growth.
The pipeline of oncology drugs in the clinical development has expanded by 45% over the past 10 years; 87% of the late-stage pipeline is targeted therapies, which include small molecule protein kinase inhibitors and biologic monoclonal antibodies.
Global Lung Cancer Drugs Market Dynamics
Companies to Watch For
For more information about this report visit https://www.researchandmarkets.com/r/sk9wou
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